Plan
for the future - your retirement and your
child's education. And earn interest on your
money, without paying taxes today. Ocean
Bank recommends that you consult with your
tax advisor for complete information and recommendations
on the right investment plan for you and your
family.

Individual
Retirement Account (Traditional IRA)

With
an Ocean Bank Individual Retirement Account
(IRA), you can invest for the long-term without
risk and a guaranteed rate of return.

Tax-deferred
earnings until the time of withdrawal

Maximum annual contribution for eligible individuals under
age 50 is $5,500

Maximum annual contribution for eligible individuals over age 50 is $6,500

If
you meet Adjusted Gross Income (AGI) eligibility
requirements, get the long-term benefits of tax-free income, plus the flexibility to withdraw contributions without tax or penalties after a 5 year investment.

Tax-free
earnings when withdrawals are made after age 59½
(certain requirements must be met)

Eligibility
to contribute to a Roth IRA depends on Adjusted
Gross Income (AGI)

Maximum annual contribution for eligible individuals under
age 50 is $5,500

Maximum annual contribution for eligible individuals over age 50 is $6,500

Set
aside money for your child's college education
without paying taxes on the earnings - or
if the
withdrawals are used for the beneficiary's
qualified higher education expenses at an
eligible institute
of higher learning.

Tax-deferred
earnings

Beneficiaries
of this account must be under the age of 18 or a special needs beneficiary

Eligibility
to contribute to a CESA depends on Modified
Adjusted Gross Income (MAGI)

Maximum
contribution is $2,000 per child per year

Contributions
are not tax deductible

To
open your Ocean Bank IRA today, just visit
any one of our convenient
South Florida branch locations.

Benefits
of an IRA Account:

FDIC
Insured up to $250,000 per depositor

Safe
and insured way to make your money grow

Flexibility
in selecting a broad range of terms, maturities
and interest
disbursement methods

Money
earns interest from date of deposit until
maturity date

A
withdrawal will reduce earnings

Flexibility
to transfer earned interest to another account

Account
fees assessed when the account is closed

Early
Withdrawal Penalties:

A
penalty may be imposed for withdrawals before
maturity.

If
the original term is equal to or less than
31 days, the penalty will be equal to
thirty
(30) days of interest on amount withdrawn.

If
the original term of this certificate is more
than 31 days but less than or equal to
1 year,
the penalty will be equal to 90 days
of interest on amount withdrawn.

If
the original term of this certificate is greater
than 1 year, the penalty will be equal to
180 days of interest on amount withdrawn.